As a taxpayer, both personally and professionally, you face a number of taxes. When it comes to managing your business or family assets, there are various ways of optimizing your tax burden in a totally legal way. Productive investments, real estate acquisitions, banking transactions, insurance policies... Who can you turn to to avoid getting lost among all the existing solutions, and to benefit from personalized support in your approach to tax exemption?
What is tax optimization?
Definition
First of all, tax optimization is totally legal. It does not involve tax evasion or avoidance. The aim of tax optimization is to reduce the tax burden on the company's finances by using various levers in accordance with the law. This is particularly true of tax niches. These schemes are available to both individuals and companies.
Various tax optimization levers
There are several ways to lower your taxes:
- The tax deduction consists of subtracting certain amounts from income in order to lower the tax base. For example, by opting for actual business expenses rather than a flat-rate deduction, or when paying alimony.
- The tax credit is granted for certain listed expenses, such as childcare costs. It also allows for reimbursement if the amounts incurred exceed the tax charge.
- Tax reductions are non-refundable by the tax authorities. For example, donations to associations are deducted from the tax base.
These tax optimization levers can be used to put together a variety of financial packages: investment in innovative companies or in intellectual production, rental investment or preservation of historical assets, management of property rights and real estate assets, inheritance tax, tax exemption through life insurance, gifts with a tax allowance, creation of a non-trading property company (SCI)...
Why use a professional to optimize your taxes?
Tax optimization is a real strategy that must be implemented in compliance with the law, to avoid any adjustments by the tax authorities. Tax advisor, tax expert, financial advisor, tax lawyer, wealth management advisor... So many different names and so many subtleties in the fields of expertise for these professionals who are qualified to help you achieve tax exemption.
A tax advisor, whether independent or employed by a firm, acts as anexpert with no conflict of interest. Their mission is to draw up a wealth assessment, evaluate tax optimization possibilities and submit a personalized action plan in line with your financial objectives. Thanks to his analytical skills and in-depth knowledge of legislation, the tax advisor can draw up a strategy tailored to each profile, and guide you towards the best investments for your needs and resources.
The tax advisor's aim is to help his clients optimize their tax situation, so as to maximize income while minimizing financial risk. In the event of an audit by the tax authorities, the advisor is responsible for justifying the choices made and providing the documents needed to defend his clients legally.
How do you choose your tax advisor?
Given the stakes involved and the responsibilities that will be entrusted to a tax advisor, it's important to choose him or her with care, so as to be able to approach tax planning with confidence and serenity. Taxation is in fact linked to many other fields: real estate, notaries, accountancy, insurance, financial investments... It is therefore possible to turn to different professionals for advice in this field: wealth management advisors, tax lawyers, chartered accountants, financial investment advisors, insurance brokers, banking agents...
These tax experts work either independently, or within other structures such as banks, insurance companies, consulting firms, notary offices... A tax advisor can meet clients face-to-face, online or by telephone.
A few precautions should be taken before entrusting your personal data and tax optimization to a professional:
- Check that the business has been declared to the appropriate register: Registre du commerce et des sociétés (RCS), Registre des agents financiers (REGAFI), Registre spécial des agents commerciaux (RSAC), Registre des organismes d'assurance (controlled by the ACPR)...
- Find out about the reliability of your contact with the authorities and control bodies, depending on your profession.
- Ask for the tax advisor's certifications (training organization, liability insurance, membership of one or more professional associations, etc.).
Certain accreditations and registrations are recognized as a guarantee of the seriousness required to practice as a tax auditor, notably membership of ORIAS, CCI and AMF. Tax lawyers must be registered with the bar.
The rates and methods of remuneration for tax consultants vary. Some charge between €100 and €500 per hour, while others work on a commission basis. This is another aspect to consider before making your choice.